Cipher Pharmaceuticals Inc. Stock Forecast
High volatility in Cipher Pharmaceuticals Inc. stock price on Friday which ended trading at $6.81
(Updated on May 10, 2024)
The Cipher Pharmaceuticals Inc. stock price gained 3.03% on the last trading day (Friday, 10th May 2024), rising from $6.61 to $6.81. During the last trading day the stock fluctuated 11.36% from a day low at $6.69 to a day high of $7.45. The price has risen in 6 of the last 10 days and is up by 9.31% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 11 thousand more shares were traded than the day before. In total, 12 thousand shares were bought and sold for approximately $83.29 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.13% during the next 3 months and, with a 90% probability hold a price between $7.89 and $10.00 at the end of this 3-month period.
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CPHRF Signals & Forecast
The Cipher Pharmaceuticals Inc. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $6.68 and $6.47. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Cipher Pharmaceuticals Inc. has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. The very low volume increases the risk and reduces the other technical signals issued. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, March 26, 2024, and so far it has fallen -4.89%. Further fall is indicated until a new bottom pivot has been found.
Support, Risk & Stop-loss for Cipher Pharmaceuticals Inc. stock
Cipher Pharmaceuticals Inc. finds support from accumulated volume at $6.75 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.760 between high and low, or 11.36%. For the last week, the stock has had daily average volatility of 4.50%.
Our recommended stop-loss: $6.48 (-4.83%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 32 days ago.)
Trading Expectations (CPHRF) For The Upcoming Trading Day Of Monday 13th
For the upcoming trading day on Monday, 13th we expect Cipher Pharmaceuticals Inc. to open at $6.98, and during the day (based on 14 day Average True Range), to move between $6.54 and $7.08, which gives a possible trading interval of +/-$0.266 (+/-3.90%) up or down from last closing price. If Cipher Pharmaceuticals Inc. takes out the full calculated possible swing range there will be an estimated 7.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $6.75 (0.88%) than the resistance at $6.93 (1.76%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cipher Pharmaceuticals Inc. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Cipher Pharmaceuticals Inc. stock to perform well in the short-term.
Current score: 4.319 Buy Candidate Unchanged
Predicted Opening Price for Cipher Pharmaceuticals Inc. of Monday, May 13, 2024
| Fair opening price May 13, 2024 | Current price |
|---|---|
| $6.98 ( 2.55%) | $6.81 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CPHRF
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.74 | 13.71 % | |
| R2 | 7.45 | 9.44 % | ||
| R1 | 7.27 | 6.81 % | ||
| Current price: | 6.81 | |||
| Support | S1 | 6.69 | -1.72 % | |
| S2 | 6.51 | -4.35 % | ||
| S3 | 6.22 | -8.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 7.16 | 5.14 % | ||
| R1 | 6.93 | 1.76 % | ||
| Current price | 6.81 | |||
| Support | S1 | 6.75 | -0.88% | |
| S2 | 5.97 | -12.39% | ||
| S3 | 5.29 | -22.32% |
FAQ
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